The Panthers waived Benyard on Tuesday, Darin Gantt of the team's official site reports.
The move corresponds with the Panthers signing wide receivers Roc Taylor and Elijah Cooks. Benyard was waived by Buffalo in mid-June before signing with Carolina this past Thursday. However, the Kennesaw State product will be on the search for another team looking to add wide receiver depth to its roster, assuming he clears waivers.